Hormuz restricts Gulf oil flow again
Since the outbreak of war in late February 2026, Gulf oil exports have experienced severe fluctuations, declining from around 16.5 million barrels per day before the war to a low of 2.9 million barrels on October 11th. This represents a decrease of up to 81% compared to September levels. Although exports recovered in June and rose to 10.1 million barrels per day, they subsequently declined sharply again. This reflects significant disorder in regional oil movement, despite some countries relying on alternative routes to avoid the Strait of Hormuz and maintain part of their exports.
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